ID platform Alloy selected by LGBTQ+ digital bank Daylight for customer verification
Alloy’s API-based platform will be used to automate the bank’s identity verification process.
Financial Inclusion
Kafene secures $75m funding to accelerate growth
Capital to support Kafene’s point-of-sale financing to Americans with limited access to credit.
Land of opportunity: The growth of BNPL in Brazil and South America
Brazil is South America’s biggest market for buy now, pay later (BNPL), and it looks set to keep growing.
Oportun to buy neobank Digit in $213m deal
Acquisition intended to accelerate Oportun’s expansion plans by three to five years.
Bank North taps Vermeg to support regulatory reporting ahead of launch
The supplier’s AgileReporter platform forms part of the UK regional bank’s tech stack.
New UAE-based fintech Verity secures pre-seed funding ahead of app launch
The $800,000 round comes ahead of a planned launch in UAE later this year.
BM Technologies to acquire First Sound Bank
The deal is expected to close in the second half of 2022.
Suits Me moves from Contis to PPS for BaaS
The UK alternative lender is expanding its services using the new platform.
Stori brings in $200m in Series C funding and debt financing
The fintech has achieved one of the largest funding rounds to date in Latin America.
Argentinian fintech Ualá to acquire Mexico’s ABC Capital
The company launched in Argentina in 2017 before expanding its services to Mexico last year.
New fintech Uellbee aims to improve financial inclusion in Mexico
The firm will offer access to credit, financial coaching, and savings.
How blockchain and cryptocurrencies can deliver financial inclusion for Africans
The uptake of blockchain and crypto has been growing in Africa, driven by the economic climate on the continent.
South African BaaS platform Jumo raises $120m in funding
The company will use the cash to expand into more emerging markets.
New US fintech Wyshcast to boost financial inclusion with sandboxes
The service plans to offer a “fully-aggregated” and “one-stop” financial planning tool.
UAE neobank Edfundo launches to teach children financial literacy
Edfundo says it is on a mission to help 8 to 18-year-olds become financially literate.
New US fintech Menta picks Agora to power credit builder platform
Menta’s platform is designed to improve access to credit for the underbanked.
Video: fintech news pick of the week – Mynt, Oracle, Standard Bank & more
Our top pick of news from the world of finance and tech in bitesize video format, every week.
Cambodia’s Hattha Bank picks Temenos to drive SME lending
SMEs comprise approximately 99.8% of all businesses in the country.
Filipino fintech Mynt secures $300m fundraise at $2bn valuation
Mynt’s most notable subsidiary, GCash, is the archipelago nation’s most popular e-wallet.
Egypt’s MIDBANK picks Temenos for digital banking revamp
Temenos’ Transact and Infinity products will replace the bank’s legacy systems.
Athlete-focused financial wellness app Scout launches in US
Scout aims to connect users with “the world’s top athletes and business minds”.
Standard Bank partners Flutterwave to boost digital financial services in Africa
Bank says the pandemic has caused a shift to digital payments across Africa.
Sri Lanka rolls out new digital payment solution LANKAQR
Central bank-backed scheme facilitates digital payments to merchants and service providers using QR codes.
US immigrant services neobank Zolve gains $40m Series A funding
The funding round takes the 10-month-old company’s valuation to $210 million.
Brazilian cross-border payments firm Ebanx acquires B2B fintech Juno
Ebanx CEO says acquisition will broaden access to the “very best payment solutions”.
Mortgage fintech Maxwell closes $52.5m funding round
The start-up supports small and medium-sized local lenders in the US.
Indian tax fintech Clear secures $75m to capitalise on country’s digitisation
The e-filing company will also broaden its offering to people and businesses.
Groww valued at $3bn following $251m Series E round
Groww will use the cash to expand its reach into underserved parts of India.
Nigerian central bank launches eNaira CBDC
Central bank claims CBDC will boost financial inclusion in the continent’s most populous nation.
Live now, pay later
I’d love to see the excitement caused by BNPL stretch to areas where lending is desperately needed.
New FinTech Futures Report: Creating financial inclusivity in a digital-first future
A deep-dive report into the industry, focusing on the emerging need for financial inclusivity.
Indonesia’s Bank INA taps Mambu for cloud banking services
The bank says its pivot to digital will allow it to cater to the underserved and unbanked.
Updraft secures £72m investment in NatWest-led funding round
The financial wellness platform hopes to wean users away from high-interest borrowing.
UK neolender Proportunity raises £105m to expand workforce and boost loans
The ‘proptech’ utilises machine learning to reduce lending risk.
Neobank FIBR launches to support European SMEs via local lenders
The BaaS firm aims to support post-pandemic growth through nurturing SMEs.
Inclusive investment start-up Wealth8 partners WealthKernel to launch new app
Wealth8 to launch a new mobile investment app for black and multi-ethnic communities.
Fintech start-up Tala secures $145m Series E funding
California-based firm will look to expand its product offering and grow its team.
Sibos 2021: Banking beyond Covid-19
Covid has changed the world, and now we have to pick up the pieces and deal with the aftermath.
BaaS platform Productfy raises $16m and forms card issuance partnership
Productfy provides companies with embeddable modules for payments, deposits, and card issuance.
NatWest acquires child banking start-up RoosterMoney
Acquisition underlines strategy to help young people learn to manage money.
